US Crypto Council Director Bo Hines says Crypto Week is key to America’s push to lead as the global hub for digital assets.
As “Crypto Week” begins in the United States, the cryptocurrency world is waiting impatiently.
With important laws moving forward to their subsequent phases, significant legislative milestones are imminent.
The following week is crucial to achieving the nation’s goal of becoming the crypto capital, according to Bo Hines, US Director of Digital Assets.
Bo Hines: It’s Time To Make America Crypto Capital
Bo Hines, Executive Director of the President’s Council of Advisers on Digital Assets, offered his thoughts on the importance of the following week in his most recent X post.
According to Bo Hines Predicts US Will Be ‘Crypto Capital’ Next Week, essential bills like the GENIUS and CLARITY Acts are headed for significant legislative advancement. He observed,
Huge week ahead — it’s Crypto Week in the House! GENIUS heads to the President’s desk. Clarity moves to the Senate. Time to make America the Crypto Capital of the World.
According to CoinGape’s article from last week, the US House designated July 14–18 as Crypto Week.
The GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act are among the significant crypto measures MPs are reportedly anticipating reviewing next week.
French Hill, the chairman, declared,
We are taking historic steps to ensure the United States remains the world’s leader in innovation and I look forward to ‘Crypto Week’ in the House…we are advancing…rules for the issuance and operation of dollar-backed payment stablecoins, and permanently blocks the creation of a Central Bank Digital Currency (CBDC) to safeguard Americans’ financial privacy.
To fight their opponents, Representatives Stephen Lynch and Maxine Waters are spearheading an attempt to bring House Democrats together against the GENIUS and CLARITY Acts by instituting “Anti-Crypto Corruption Week.”
Key Bills Will Establish US Dominance In Crypto, Experts Say
Remarkably, the GENIUS Act is on the verge of becoming the nation’s first stablecoin law.
This historic law, which has already passed the Senate, introduces a novel federal framework for payment stablecoins that addresses issuance, regulation, and oversight to promote innovation and offer clarity and protection.
The GENIUS Act would represent a significant turning point in the development of US crypto legislation if it were to become law next week.
Meanwhile, the CLARITY Act, or the Digital Asset Market Clarity Act, intends to introduce a clear regulatory framework for cryptocurrencies, defining the oversight roles of the SEC and CFTC.
“The Golden Age of digital assets is here,” said Bryan Steil, the subcommittee chairman.
The CLARITY Act will shield consumers from fraud while fostering innovation and guaranteeing American leadership in digital assets.
On the other hand, the Anti-CBDC Surveillance State Act aims to stop a CBDC from being introduced in the US, preventing its possible debut.
According to Chairman McHenry, “This bill is simple. To protect Americans’ right to financial privacy, it prevents unelected bureaucrats from launching a central bank digital currency, or CBDC.